Secret 2008 Fed Loans Uncovered

Without notifying the public of their transactions, the Feds doled out money to three banks at interest rates as low as 0.01 percent during the 2008 financial crisis, Bloomberg News reported Thursday. Goldman Sachs, Credit Suisse, and the Royal Bank of Scotland each reportedly received at least $30 billion. Though the news is particularly upsetting to advocates of government transparency and to taxpayers, who funded the move, some experts say the stealth was necessary at the time in order not to spook the markets.